A government official says Canada is already examining possible retaliatory tariffs on certain items from the United States should President-elect Donald Trump follow through on his threat to impose sweeping tariffs on Canadian products.

While Black Friday 2024 won’t be harmed, if the new Trump tariffs become reality, shoppers could be in for a major shock over the year to come.

One of the biggest consequences of a tariff on imports from Canada would be pricier lumber, though traders haven't flinched at Donald Trump's threat of 25% tariffs on goods that cross the northern border.